UK: Berlin steps don't cover firms outside Germany

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FRANKFURT (MarketWatch) -- The U.K. Financial Services Authority said Wednesday that Berlin's actions to ban several trading practices don't relate to branches of German institutions outside of Germany. "We note what Germany has implemented and will assist BaFin wherever appropriate," an FSA spokesman told MarketWatch. "The scope of these bans relates to German participants or business taking place inside Germany and does not cover branches of German institutions outside of Germany or in the UK." BaFin is the Federal Financial Supervisory Authority based in Bonn, Germany.

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